Nashville, Tenn. — The National Association of State Boards of Accountancy has proposed a set of rules that would have CPA firms self-report on their internal quality control procedures, as well as those of their audit clients.
Unlike traditional quality review programs, the NASBA guidelines would mandate that firms submit to their respective state licensing boards any “adverse” quality control reviews of their operations. They also would have individual CPAs notify the boards of any civil charges that have been brought against them involving fraud, violation of standards of practice or misappropriation of funds.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access